Lala World: as the solution to overcome all the banking problems in the future

Blockchain comes as a blessing in disguise to truly create a decentralised, peer to peer network, distributed among the value holders. From humble beginnings in 2008, Blockchain and cryptocurrencies are becoming mainstream today. Further, developments in the blockchain space continues to take place at a faster pace than ever before.

Several corporate, governments and developers are working on different aspects to improve this technology but there are three major aspects of Blockchain being implemented over the next few months which we believe will work wonders for LALA World and the unbanked. These are:

True and immune decentralization: Most people on the planet do not have the capability to own large computers, servers or any of the existing sophisticated machinery to operate a node in the system, but they do have smartphones.With decentralised projects and beginnings of Atomic Swaps, this could truly create a decentralised world in the coming years and decades.
Scalability and efficiency on-Chain: These two go hand in hand. Scalability needs to have a throughput of millions of transactions per second, on-chain. And the efficiency must be increased by a factor of 80 to 90 in order to be considered disruptive while run secure by design. Many solutions are being proposed which will further help our cause.
Privacy, open and unrestricted access: People work for their money and must have full, uncensored and unrestricted access to their own money. Banks, capital markets and the centralised controls continue to suppress the unbanked. LALA is creating that ecosystem to truly revolutionise the way peer to peer markets works for this population.

What is LALA World ?

LALA World is an Ecosystem of real life partnerships with governments, NGO’s, local communities and an integration of biometrics, blockchain and distributed ledger technology that aims towards financial inclusion.

LALA World (“LALA”) is a wholesome ecosystem for the unbanked, starting with the migrants and their families back home. The ecosystem not only revolves around financial inclusion, but also bringing together communities at grassroots level, solving real life issues faced by this population and using the most advanced technology to bring everyone together.

The base of this Ecosystem is the LALA Wallet platform. By creating a whole new peer to peer infrastructure, LALA aims to revolutionize the way individuals, small businesses and micro entrepreneurs transact, make domestic and cross border payments, borrow money and associated products like insurances, cards, wealth and other general banking products.

The key to LALA’s success is in its experienced team and their global network and partnerships. We believe it is all about execution in the end. With relevant experience running such projects, monumental partnerships already in place, great technology team behind us and ground level support, we believe we are blessed to have all come together for LALA.

To accomplish this herculean task, we need partners. We are aware of our migrant and network strength, but also at the same time, aware of our weaknesses. We cannot build everything alone. Therefore, LALA has struck various partnerships across Asia, Africa, Middle East and CIS. That means real customers, real people and use cases. A fiat prototype is being tested across users in Malaysia and India. This will provide us with valuable feedback and make the system more robust. An Ethereum and Hyperledger based domestic and cross border financial system (LALA Transfer) Proof of Concept (PoC) as well as a peer to peer lending platform (LALA Lends) is being developed by our highly qualified blockchain developers. That should be complete just before LALA Tokens hit the exchanges.

The current financial system is broken for this suppressed population. Several papers, articles and theories have been written on this. It has been a herculean task to bring them into the mainstream. From a controlled and centralised financial system, LALA is truly bringing a whole new ecosystem (financial and grassroots community levels) to eliminate the need for intermediaries which drastically reduces costs and creates efficiencies.

Storing transactions on Blockchain eliminates complicated procedures and clearinghouses, saving time, money and the risk of error. The allowance of frictionless savings and investments gives people more control over their financial destiny. LALA uses Smart Contracts embedded into transactions that further simplify complex procurement, negotiation and verification processes.

LALA aims to revolutionize the way individuals, small businesses and micro entrepreneurs transact, make payments, borrow money and associated products like insurances, domestic and cross border remittances, cards and other general banking products.

BLOCKCHAIN + FINANCIAL INCLUSION = LALA WORLD ECOSYSTEM

THE LALA WORLD ECOSYSTEM

LALA WALLET

LALA Wallet is your single point access to all financial services in the LALA World ecosystem. You have multiple top up and cash out options, hold fiat or multiple cryptocurrencies, with a host of financial services like money transfer, lending, bill payments, cards and other normal banking products at your fingertips. LALA Wallet also allows you to share your micro projects globally, allows you to raise issues which are suppressing the unbanked and build your own communities, thereby creating a true Ecosystem benefiting everyone.

When you download for the first time, one of the most secure multi-currency wallets is automatically created, which the user can then fund with fiat or cryptocurrencies. We are also working with various banks and payment processors across geographies to enhance the acceptance globally.

Central to this Wallet platform will be our LALA Tokens that will allow seamless transfers and payments for various transactions and services. LALA Wallet also includes an API for third-party developers so they can interact with the Wallet, access balances, send transactions, invoices, and build other third-party applications on top. This will further enhance the LALA Wallet acceptability and usage. Third Party API business model will create more partners who can distribute LALA Services globally to strengthen this network.

The user can conveniently convert a wide range of Blockchain assets such as LALA, BTC, ETH and DASH by simply using his LALA Wallet which has an inbuilt exchange mechanism. If the user is not crypto savvy, they can also choose to store the currency in local Fiat and not use crypto at all, giving ultimate freedom to the user and truly bridging the old world to the new.

The more you use your LALA Wallet, the more you are rewarded economically, not only by cheaper transactions, but also via LALA Tokens for activities like sending new remittances, topping up user’s balances, or cashing out other users balances at other ends, along with number of other LALA referral products and services as described below.

For mass acceptance of LALA Wallet, we have teamed up with various employers, NGO’s, contractors, support groups who bring these migrants to new countries. Along with their initial training, we will be conducting LALA Camps not only to educate them about new countries, but also adapt to their new LALA Wallet and how it can help them in a strange new country. Newer ways of interacting between themselves, support groups and any other issues they face can be all reached out via one single platform LALA Wallet

LALA ID One Global ID, on Blockchain and under your control

“Digital Identity is a must for the millions of migrant labour population that visits through our platform every year and we are excited to take the first step with LALA for a truly global experience”

Dato Ratha Vellai, Bestinet Sdn Bhd Malaysia

LALA had a vision — to provide a digital identity to every
person on the planet, starting with migrants and their unbanked families.

LALA TRANSFER LALA’s management team and its partners are one of the most experienced crew who have run payment wallets, money exchanges, remittance and lending businesses for over 10 years in over 15 different counties. On top of solid experience and a great network, we have also built a great crypto offering — “LALA Transfer”, for efficient, cheaper and faster remittance services globally.

LALA Wallet, LALA ID and LALA Token are the central pieces to the LALA World ecosystem. LALA Wallet allows seamless onboarding, LALA ID creates easy verification, AML / KYC and LALA Token provides the single mechanism for users, partners, money transfer agents / operators, to make quick and cheaper transfers within communities domestically as well as cross border.

LALA LENDS Peer to peer and micro-lending has been on a steep rise over the last five years. But if one looks around, its primarily the developed nations and companies who have blossomed into unicorns while the industry has promised to eliminate poverty, offering low-barrier loans to those historically unbanked financially.

So-called “bottom-of-the-pyramid” solutions have led to strategies that many claim simply do not work and actually make poverty worse. This is where the Ecosystem approach comes handy. LALA team has extensive experience of mitigating this. LALA World supports individuals and small and medium sized businesses by offering them.

Micro loans, backed by LALA Token investors (and investors are rewarded). We are also working with some large funds & government partnerships to provide us underwriting capability to fund some loans.
P2P loans inside the LALA Wallet from LALA Community — both in Fiat as well as Crypto.
Community based projects (for e.g. small solar farm in a remote village) or small retailer loan based on their sales, trade data and invoice all embedded inside LALA ID and one Score — LALA Score.

LALA CARD

Within the LALA Wallet, user can choose to order a LALA Card, a virtual and/or physical debit (and in time to come credit card). As a security measure, we allow a user to lock and unlock his card through the LALA Wallet App. Furthermore, the user can also set limits for his family members and sync all the cards to the same Wallet. This makes our system more secure than traditional credit and debit card systems.

Blockchain and LALA Tokens become very central to this as users can sync multiple cards to the same LALA Wallet, which can then be used as both Fiat and Crypto medium of exchange without incurring any high fees for such transfer at any time. Further, we will also be coming up with a loyalty mechanism tied to the LALA Card, so that more you use the wallet, the more you are rewarded as a LALA Token holder.

Not only are the fees, much cheaper than traditional Wallets, but also payback rewards are massive, leading to almost nil fee when used globally. Customers will be allowed to top-up their LALA Card with ETH/BTC/LALA Tokens, bank transfer, credit card, debit card or via a pre-approved credit limit. Other third party partners like Apple Pay, Samsung Pay and Android Pay will be integrated in time to come.

LALA KIT

LALA Kit is for everyone. A small business, grocery store, unbanked or a migrant labour. Buy LALA Kit from your nearest store or partner locations and be plugged in to the financial system instantaneously. No bank integrations, no filling of forms, no long queues, just activate your ID and sync with the phone inside, start using, get paid, receive money. LALA kit can also be pre-ordered online and delivered straight to you at a very affordable cost. A migrant labour, for example, can even get LALA Kit before he boards the plane from Bangladesh to Malaysia.

OTHER LALA PRODUCTS

We are focussed and the vision of our management is very clear. Therefore we want to start with products and partnerships that we have built with over a decade of experience. We do not claim to know everything and clearly realise our strengths and weaknesses. Also, there are things that are best left to experts who are good at doing that. Therefore, we believe in stronger partnerships. We are good at creating this ecosystem, working hard, willing to learn but as we expand and grow, we need partners. Please feel free to reach out to us at hello@lalaworld.io if you would like to partner with us.

Above mentioned products, in some shape or form are already being launched in various jurisdictions. MOU’s and definitive agreements are being signed across Asia, Africa and Middle East. Products like LALA Insurance, LALA Wealth, LALA ATM’s, LALA Force, LALA Franchise etc are all planned after 12 months. Right now we are on track to create a global Wallet for the unbanked. Roadmap and further plans are detailed in sections below.

LALA TECHNOLOGY AND MVP

DESIGN AND APPROACH

Most LALA Wallet users have smartphones but cannot afford expensive machines. Blockchain is maturing and reaching to a stage where there is currently a need for a single class, secure strong governance (decentralized) value exchange that uses maximum distributed computing so it is efficient and scales to millions of transactions per second when powered/powering billions of devices (single class of machines) while maximizing security and minimizing transaction fees (to almost zero). To achieve this, we are focussing on the following stack of technologies:

DEVELOPMENT ROADMAP

We have a clear path to our vision and we have prepared a development roadmap for our technology. Our team prefers a staged approach which means that each stage will have its deliverables:

Stage 1. We are launching a basic version of LALA Wallet in Malaysia and India by first week of November. An initial POC with two products will be released by November as well, just in time for this Pre-ICO. The System will be working on Ethereum Testnet blockchain with real user data. This will help us prepare smart contracts and get feedback from the community, real users and make sure that this solution is viable.

Stage 2. LALA Alpha platform will be deployed on Ethereum Mainnet blockchain. Client onboarding via LALA ID, feedback gathering and improvement. Preparation for beta. This should happen by January 2018 in India, Malaysia, Bangladesh, Vietnam, Turkey & UAE.

Stage 3. A full working product will be ready by February 2018 with a fully functioning backend server with telematics integrations for real customer data gathering and prediction. This will include a Fiat Wallet, Cross border remittance and P2P lending to begin with.

Stage 4. LALA Beta. Fully functioning platform with key features in place to be released by March 2018 and open to selected group of geographies and customers. We are looking at over 10 Countries right now as depicted on the partnership page.

Stage 5. LALA 1.0. Opening system for public usage and enabling massive adoption across geographies will happen by April 2018

Stage 6. Further development to increase amount of transactions usability and throughput of the platform.

OUR GLOBAL PARTNERSHIPS

LALA INITIAL COIN OFFERING

LALA Token is an ERC20 loyalty token, also referred to as utility token, with the functionalities as described in this Whitepaper. The funds raised in the initial coin offering (“ICO”) will be used to further scale the platform, expand in more countries, assistance for local communities to build, investments in a small LALA Fund for the migrants, unbanked and hire more people on technology and business development. This is further detailed in next section.

We would like to highlight that LALA Token does not constitute a security in any form in any jurisdictions, and this Whitepaper is not a solicitation of investment and does not relate to any form of an offering of securities in any jurisdiction.

HIGHLIGHTS OF LALA ICO

1 ETH will buy 1000 LALA Tokens.
There is a minimum purchase amount of 100 LALA Tokens or 0.1ETH per purchase.
Pre-ICO sales period will be from 25 November 2017 at 9 PM (Singapore time) to 15 December 2017 at 9 PM (Singapore time). LALA reserves the right to revise and amend the Pre-ICO sales period at its sole and absolute discretion.
Feedback & review period will be from 16th to 31st December 2017. This will include feedback, implementation, launches in a few countries, numerous partnerships, testing and other significant news in various countries.
ICO sales period will be from 5 of January 2018 at 9 PM (Singapore time) to 5 February 2018 at 9 PM (Singapore time).
US Dollars, Ether, BTC, and other cryptocurrencies as determined by LALA can be used to purchase LALA Tokens. Further details can be found at www.lalaworld.io

2. LALA TOKENS CREATION, RESERVES AND BREAKDOWN LALA intends to raise 150,000 ETH from the pre-ICO and the ICO for further expansion, development and other growth activities. That is a total of 150 million LALA Tokens to be distributed to purchasers during the pre-ICO and the ICO.

LALA will create a further 100 million LALA Tokens for a total of 250 million LALA Tokens (“Total Tokens Created”), subject to other features of LALA World.

Distribution of the Total Tokens Created will be as follows:

60% of the Total Tokens Created will be sold during the pre-ICO and the ICO period.
15% of Total Tokens Created will be allocated to LALA founders, early investors, technology teams, existing and future employees of LALA, and held in a pro-rata lock-in contract for at least 6 months.
10% of Total Tokens Created during the ICO will be granted to advisors, consultants, community developers and will be locked in a pro-rata smart contract for 6 months, unless specifically agreed beforehand.
15% of the Total Tokens Created will be credited to the reserve. This reserve may be used for future token sale or other purposes as LALA in its sole and absolute discretion may determine.

The reserved LALA Tokens may be used for the activities below, if LALA deems necessary:

A. Establishing research labs in cooperation with high profile universities across geographies for betterment of local communities.

B. Creating tutorials and educational materials for LALA network and developers using different Blockchains such as Ethereum and Bitcoin.

C. Organizing events and conferences to raise the awareness of the LALA network technology and facilitate market adoption.

Distribution of LALA Tokens will start within 30 days after the end of the ICO and trading should ideally commence on Q1 of 2018 when holders of LALA Tokens can start trading and transferring their LALA Tokens.

Therefore,

PARTICIPATION AND BONUSES

Purchasers of the first 125,000,000 LALA Tokens will receive a loyalty bonus on their initial investment. LALA Tokens issued for the loyalty bonus will be in addition to the Total Tokens Created.

The purpose of the loyalty bonus is to create a discussion on issues raised by the LALA project, to attract the attention of leading experts in the industry, and to raise funds to prepare the promotion and public relations of the LALA project, as well as to prepare for a quality ICO.

During the eligible period, LALA shall be offering following bonus LALA Tokens to early purchasers:

Token Bonus Structure

LALA ICO PROCESS

LALA REFERRAL PROGRAM

A. Each Crowdsale participant (Pre-ICO and ICO) will be provided with a unique referral URL LALA.BUY.XXXXXX.

B. A referrer will receive an additional amount of Tokens equal to 5% of the Tokens bought by all their referred buyers.

C. This additional 5% is taken from the reserved 15% company Tokens as well as buy backs in the future.

D. When LALA launches its Wallet, these referral URLs get converted to Net Transaction Fee referrals where you will receive 5% of your referred users Net transaction fees every time they use their Wallet as long as both referral and referee hold LALA Tokens. T h i s referral bonus will be allocated via smart contracts automatically on a monthly basis, moving on to weekly and then daily basis eventually.

E. Once you create your account or login, a referral link is generated and once you refer anyone, a list will generate under your referral link.

Referral link sent to friends via messengers
Referral link in your accounts on social media
Signatures on forums
Articles and blog reviews
Youtube videos about the project
Mentions of the project in blockchain social media groups

LONG TERM INVESTORS

A. Besides price appreciation, we have devised innovative schemes for our long-term investors & supporters to help this noble cause. For every LALA Token invested by these investors in community projects, LALA will invest an equivalent amount of tokens or community narrowing help for the poor and deserving. Investors can earn not only interest on the Tokens they already hold but also work towards a social cause

B. LALA long term investor can choose and vote for various community projects, including their own charities for helping this ecosystem as well as put forward their own communities that they want to support. These communities, micro lending projects and other local help can then be used by other investors and LALA team itself to successfully execute these projects

SHORT TERM INVESTORS

A. We are making every effort for short term investors to participate in this ICO and help this cause

B. There are referral programs, bounty campaigns, and we are working tirelessly to make sure that there is considerable price appreciation when LALA is listed in a few months

C. Referral programs ensure that you not only get additional LALA Tokens but you also get a share of the transactional revenue for every friend referred by you for life as long as you continue to hold LALA Tokens

REAL USERS

A. LALA Wallet has been devised in such a way that the users are rewarded at every step. For example updating KYC information, referring other users, community projects etc.

B. LALA and the team is for real development of the unbanked. Users, investors and other members who participate and help other users will be rewarded. Token holders will also be rewarded for acting as cash top up and cash out points via local GPS tracking.

C. From time to time we will come up with various projects that LALA fund or community members nominate. Anyone participating on these projects will be rewarded in LALA Tokens.

EXPANSION ROADMAP

SHORT TERM — MARCH 2018

2.MEDIUM TERM — DECEMBER 2018

3.LONG TERM — DECEMBER 2020

CONCLUSION

LALA’s vision is very simple — financially include the unbanked into the system who have been suppressed for the longest time. Access to basic financial services is a must in today’s day and age. Blockchain has come in as a blessing by creating a truly peer to peer ecosystem on a distributed network.

We are aware that to change from the old Fiat system to this new decentralised ecosystem, will take time. That is why we are taking this journey to start with best of both worlds and eventually move to a truly decentralised network.

Engaging everyone, especially the unbanked population in the electronic finance system via Blockchain will raise incomes of the poor and also improve health care and education systems. LALA is working with grassroot communities via NGO’s, Local JLG (Joint Liability Groups), Local governments and exploring numerous partnerships. We cannot do this alone. But we can give the tools and incentives to our partners to all come together, transact via one LALA Token, One LALA ID and bring financial services to your doorstep (aka Smartphone).

MANAGEMENT TEAM